Sunday, July 5, 2009

Close Cash Flow Gaps by Outsourcing Cash Flow Management Services to India

What is cash flow management?
The process of monitoring, analyzing and adjusting your business' cash flow can be defined as cash flow management. Very often cash inflows and cash outflows don't keep pace with each other and this could cause a cash flow gap leaving your business short of cash. Cash flow management ensures a smooth running of your business with no such gaps.

Is cash flow management necessary?
Solvency in a business depends on the cycle of cash inflow and outflow. Cash flow management analyzes this cash flow cycle by identifying cash flow problems, finding ways to improve your cash flow and maintaining an adequate cash flow in your business at all times.

Why outsource cash flow management services to India?
Indian outsourcing companies have wide experience and professional expertise to effectively manage your cash flow. By outsourcing to India, you gain the added advantage of specialists taking care of all your cash flow management needs, at a cost-effective price.

What are the various cash flow management services that can be outsourced?
Service providers offer a wide range of customized cash flow management services which include:

  • Cash flow analysis
  • Cash flow forecasting
  • Cash flow projection
  • Cash flow planning
  • Cash flow budgeting
  • Cash flow reviewing
Other allied services such as managing cash flow on a daily basis, managing financial risks, maintaining an electronic fund transfer system, reviewing and analyzing expenditures on banking services, negotiating contracts for financial and banking services and managing fraud control programs are also offered by Indian outsourcing companies.

What are the benefits of outsourcing cash flow management services to India?
Outsourcing your cash flow management services to India works to your advantage since you gain:
  • Fast and reliable services at one-third the cost
  • Trained and experienced professionals managing your cash
  • Secure FTP networks ensuring data security
  • Usage of up-to-date software for cash flow analysis
  • State-of-the-art infrastructure and technology
Outsourcing your cash flow management services to India will effectively close all cash flow gaps that are found in your business, making your business a success.

Why Outsource Bookkeeping and Accounting Services to India?

Research has shown that nearly 35% of America's largest businesses outsource their bookkeeping and accounting to India. Listed below are the most common reasons as to why companies prefer outsourcing to hiring an in-house bookkeeper:

The Cost Factor: Businesses outsourcing their bookkeeping services gain an overall saving of up to 50%. Companies outsourcing save on employee salary and benefits, overheads, hiring and training costs and other management expenses.

High Quality Bookkeeping: Outsourcing companies maintain superior quality by employing only qualified and trained accountants, CPA’s and MBA’s. They are specifically trained in bookkeeping and are conversant with the latest guidelines and pronouncements on the US GAAP, IAS and SEC regulations.

Fast Turnaround Time: The time zone advantage enables a continuous work cycle. This enables the service provider to work on the books during the same night and upload them onto a server or send them to the client via email by the next morning.

Use of the Latest Software: Online bookkeeping services use the latest software like MYOB and SAGE, QuickBooks (all versions), Quicken, Peachtree, Intuit ProSeries, Intuit Lacerte, Net Suite, Creative Solutions Accounting, Master Builder, Business Works etc., while working on your accounts.

Ability to Concentrate on Core Competencies: By off-loading a non-core function like bookkeeping to India, businesses are able to turn a cost center into a profit center. This leaves them with more time and resources to focus on other core business areas.

Assured Data Security: All service providers sign security statements and service agreements assuring data privacy. Outsourcing companies also own secure FTP networks which assure the client of complete data security.

Service Package Options: Clients can choose to use either one of the three bookkeeping processes, namely, Server Based (FTP) Bookkeeping Process, Remote Access Bookkeeping Process or Application Service Provider (ASP) Bookkeeping Process.

99.99% Accuracy Rate: Indian service providers employ stringent quality checks which assure you of an accuracy rate of 99.99%.

With most of the successful businesses moving on to online bookkeeping, clients outsourcing their bookkeeping services to India stand to gain immensely by reducing their operating costs and focusing their resources on other core competencies.